Zacks Investment Research downgraded shares of Chefs’ Warehouse (NASDAQ:CHEF) from a hold rating to a strong sell rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “Chefs’ Warehouse Holdings, LLC is a distributor of specialty food products in the United States. The Company is focused on serving the specific needs of chefs who own and/or operate restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. Its product portfolio includes artisan charcuterie, specialty cheeses, unique oils and vinegars, hormone-free protein, truffles, caviar, and chocolate. It also offers cooking oils, butter, eggs, milk, and flour. Chefs’ Warehouse Holdings, LLC is based in Ridgefield, Connecticut. “

A number of other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Chefs’ Warehouse from a strong-buy rating to a buy rating in a report on Wednesday, January 22nd. Piper Sandler reaffirmed a buy rating and set a $41.00 price objective on shares of Chefs’ Warehouse in a report on Wednesday, January 15th. Piper Jaffray Companies began coverage on shares of Chefs’ Warehouse in a report on Wednesday, December 11th. They set an overweight rating and a $41.00 price objective for the company. ValuEngine downgraded shares of Chefs’ Warehouse from a buy rating to a hold rating in a report on Tuesday, January 28th. Finally, CL King initiated coverage on shares of Chefs’ Warehouse in a report on Monday, November 11th. They set a buy rating and a $41.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $39.06.

Shares of NASDAQ CHEF traded down $0.52 during mid-day trading on Tuesday, reaching $37.11. 19,538 shares of the company were exchanged, compared to its average volume of 240,697. Chefs’ Warehouse has a 52 week low of $29.56 and a 52 week high of $42.06. The company has a quick ratio of 1.47, a current ratio of 2.35 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $1.16 billion, a PE ratio of 49.47, a PEG ratio of 2.46 and a beta of 0.76. The company’s 50 day moving average price is $38.10 and its 200 day moving average price is $37.48.

Chefs’ Warehouse (NASDAQ:CHEF) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. Chefs’ Warehouse had a net margin of 1.42% and a return on equity of 8.79%. The company had revenue of $426.51 million during the quarter, compared to the consensus estimate of $428.88 million. During the same period in the previous year, the firm posted $0.32 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that Chefs’ Warehouse will post 1 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of CHEF. Conestoga Capital Advisors LLC lifted its stake in Chefs’ Warehouse by 43.9% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,972,675 shares of the company’s stock worth $75,179,000 after purchasing an additional 601,511 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Chefs’ Warehouse in the second quarter worth $5,915,000. Morgan Stanley lifted its stake in Chefs’ Warehouse by 179.2% in the second quarter. Morgan Stanley now owns 178,216 shares of the company’s stock worth $6,251,000 after purchasing an additional 114,390 shares during the last quarter. California Public Employees Retirement System lifted its stake in Chefs’ Warehouse by 98.2% in the fourth quarter. California Public Employees Retirement System now owns 122,685 shares of the company’s stock worth $4,676,000 after purchasing an additional 60,790 shares during the last quarter. Finally, State Street Corp lifted its stake in Chefs’ Warehouse by 8.2% in the fourth quarter. State Street Corp now owns 747,324 shares of the company’s stock worth $28,481,000 after purchasing an additional 56,651 shares during the last quarter. 87.55% of the stock is owned by institutional investors and hedge funds.

About Chefs’ Warehouse

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food products in the United States and Canada. Its product portfolio includes approximately 55,000 stock-keeping units comprising specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products.

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